All Forum Posts by: Albert Hasson

Interesting topic for BP!  I would highly recommend a chef.  My family has had one for about 4 years now.  4 phenomenal dinners per week (M-Th) about $400/wk everything included (shopping, cooking, clean up).

When we looked at what we used to spend on groceries plus meals out it really turned out to be a wash cost wise and the convenience factor is priceless.  It has allowed me to work later and not rush home to help prepare a meal and it has allowed my wife to spend more time with the kids and attend to their busy schedules. Don’t see much down side to it.  Give it a try.

Funny, every single one of my properties is in a HOA and I love it. The monthly fee goes towards common area landscaping as well as enforcing rules that keeps the neighborhood nice and uniform, lawns mowed and yards weeded, houses painted, trash cans behind gates, cars parked in appropriate spots, etc.

When I drive my neighborhoods I never have to worry about a trashed house next to my property, a car parked on the lawn next door, homes in disrepair and in need of paint, etc.

The tenants I attract expect their neighbors homes to be just as nice as mine.

No downside to HOA's in my opinion.

I have about 8 or 9 homes with pools here in the Phoenix area.  Definitely more maintenance expenses associated with them but I also get an extra $100-150/mo rent out of them and they rent quick especially in the spring/summer rental season.

Overall more positives than negatives 

I think your family will be best served by financial stability.  It will take time to deploy that capital and see a return.  What are you going to do for living expenses in the first 6-12 months while your real estate investments are in their infancy?  Hopefully not use the $200k you have set aside for RE investments 

Actually Jeff I’m an anesthesiologist.  60 hours would be a light week for me!!

Jeff, don’t mean to discourage you or burst your bubble but giving up a $300k/yr job in order to go into “real estate” with only $200k is foolish unless there is more to the story.  

I would venture the vast vast majority of BP’ers use RE to supplement their income, not replace it.  My business partner and I have worked over the past 20 years to build a single family home portfolio with $4M in equity that generates about $300k/yr gross income.  Then subtract property tax, maintenance, etc. and it’s way less than that.  All the while we have both worked full time in our W2 jobs. 

Absolutely no way in the world can you turn $200k into $300k/year in any reasonable time frame.  

Please think twice about giving up that high paying job

This has happened on multiple occasions to us.  Tell her fine but she has to pay rent and keep utilities in her name until you can find another renter.   Every tenant I have offered this to has been fine with this arrangement no questions asked. In my market, however, it has never taken more than about 30 days to re-rent. 

I’m a long time investor in the Phoenix area but my son was just accepted to the US Air Force Academy in Colorado Springs.

I am looking for any insight from seasoned CS investors. I invest only in buy and hold SFR's in A or B neighborhoods. Any info is appreciated, specific neighborhoods, realtor suggestions, etc

Thanks

Chris,

Call Michael Franklin at The Property Shop realty.  I’ve been working with him since 2004 (pre crash).  Have probably bought and sold 35-40 homes with him during that time.  He lives and works in Peoria.

Principle aside, I doubt this will have much effect of landlord profits or lead to a mass exodus of landlords in Oregon. 7% plus CPI is an almost 10% yearly increase plus you can reset to market rates when a tenant leaves.

If a landlord needs a more than 10% yearly increase in rent to make the numbers work then they priced the rental way too low to begin with or there is some other issue going on.

I don’t love the legislation but it’s not going to mean much long term in terms of investor confidence or rental property valuations.